EX-12.1 3 dex121.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands) --------------------------------------------------------- ------------ Jan. 31, 1998 Jan. 30, 1999 Jan. 29, 2000 Feb. 3, 2001 Feb. 2, 2002 --------------------------------------------------------- ------------ Earnings Before Income Taxes $ 854,242 $ 1,319,262 $ 1,784,949 $ 1,381,885 $ 241,641 Add: Interest Expense 17,779 46,145 44,966 74,891 109,190 Interest on rental expense 250,025 288,143 337,471 387,627 422,583 --------------------------------------------------------- ------------ Earnings $ 1,122,046 $ 1,653,550 $ 2,167,386 $ 1,844,403 $ 773,414 ========================================================= ============ Interest Expense $ 17,779 $ 46,145 $ 44,966 $ 74,891 $ 109,190 Capitalized Interest 12,186 10,982 24,900 40,574 24,538 Interest on rental expense 250,025 288,143 337,471 387,627 422,583 --------------------------------------------------------- ------------ Fixed Charges $ 279,990 $ 345,270 $ 407,337 $ 503,092 $ 556,311 ========================================================= ============ Ratio of Earnings to Fixed Charges 4.01 4.79 5.32 3.67 1.39